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11 Year Old Isaac Says "my CHESS Account Paid My School Fees"
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We recently ran a nationwide competition for our CHESS account holders and invited them to write a 500 word essay on the topic "Why I Love To Save". This entry and two others won the competition and took away N50, 000 each in prize money. Read more about the CHESS account here:


My name is Isaac Maduabuchi and I want to talk on the topic “why I love to save.” The oxford dictionary meaning of saving is ‘an amount of money that you do not use or spend’. The importance of saving is that it helps people achieve so many things. You cannot become rich without savings and we not being able to save is a major problem for us in Nigeria. We can save through monthly allowances by saving money that is given to you through your dad, mum or any other person every month.

My Grandfather did not have any property because he could not save and if you do not save you would not have enough money and that was the case of my grandfather. But my dad learned from that mistake and he began to save and now he has enough money to build a house because he had a saving habit. I have a CHESS account (Children Education Savings Scheme) that my parents opened for me in Stanbic IBTC Bank. I save money into it so that as I grow up it will help me plan my future.

Life is not all about getting something but by working hard for it and it helps provide for personal needs. When I was born my parents opened a savings account which was realized from money given to my mother during my birth naming ceremony. And this has helped in catering for my needs. For example, my father told me that when I was little they saved about N3 000 to my CHESS account every month, so when we wanted to move to our new house my parent borrowed N80, 000 from my CHESS account to help complete some work in our new house so that we can move in instead of paying another year’s rent in our former house.

My parents also took money from my CHESS account in order to pay for my school fees to enter Faith academy JSS1 because if I do not pay for my school fees on time to meet the deadline of the submission date my name will be removed from the admission list and my space will be given to someone else but thank God my parents had money in my CHESS account to be able to pay for my school fees, and I got my admission because I was able to pay my school fees on time.

From all the points that I have made above and the experiences my parents have shared with me, it has inspired me to love to save in order to plan myself and have a good life. This is my story on “why I love to save”.